Chapter 11 customer driven market Flashcards

1
Q

Affinity program

A

Marketing effort sponsored by an organization that solicit involvement by individuals who share common interests and activities.

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2
Q

Business (B2B) product

A

Good or service purchase to be used, either directly or indirectly, in the production of other goods for resale.

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3
Q

Business intelligence

A

Activities in technologies for gathering, storing, and analyzing data to make better competitive decisions.

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4
Q

Cause Marketing

A

Marketing that promotes a cars or social issue, such as preventing child abuse, anti-littering efforts, and stop smoking campaigns.

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5
Q

Co-branding

A

Cooperative arrangement in which two or more businesses team up to closely linked their names on a single product

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6
Q

Comarketing

A

Cooperative arrangement in which to businesses jointly market each other’s products.

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7
Q

Consumer (B2C) product

A

Good or service that has purchased by end-users.

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8
Q

Consumer behavior

A

Actions of ultimate consumers directly involved in obtaining, consuming, and disposing of products and the decision processes that proceed and follow these actions

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9
Q

Data mining

A

The task of using computer base technology to evaluate data in a database and identify Useful trends

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10
Q

Data warehouse

A

Customer database that allows managers to combine data from several different organizational functions

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11
Q

Demographics segmentation

A

Distinguishes markets on the basis of various demographic or soci economic characteristics

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12
Q

End use segmentation

A

Marketing strategy that focuses on the precise way a B2B purchaser will use a product

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13
Q

Environmental scanning

A

Analysis of external environmental factors by marketers to understand how they impact business and marketing decisions

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14
Q

Event

A

Marketing or sponsoring short term events such as athletic competitions and cultural and charitable performances

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15
Q

Exchange Process

A

Activity in which two or more parties give something of value to each other to satisfy perceived needs

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16
Q

Frequency marketing

A

Marketing initiative that rewards frequent purchases with cash, rebates, merchandise, or other premiums.

17
Q

Geographical segmentation

A

Dividing a market into homogeneous groups on the basis of their locations

18
Q

Lifetime value of a customer

A

Revenues and intangible benefits (referrals and customer feedback) from a customer over the life of the relationship, minus the amount the company must spend to acquire and serve that customer.

19
Q

Market segmentation

A

Process of dividing a total market into several relatively homogeneous groups

20
Q

Marketing

A

Activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

21
Q

Marketing concept

A

Company -wide consumer orientation to promote long – run success.

22
Q

Marketing mix

A

Blending of the four elements of marketing strategy – product, distribution, promotion, and pricing – to fit the needs and preferences of a specific target market.

23
Q

Marketing research

A

Collecting and evaluating information to help marketers make affective decisions.

24
Q

Organization marketing

A

Marketing strategy that influences consumers to accept the goals of, receive the services of, or contribute in someway to an organization.

25
Person Marketing
Use of efforts design to attract the attention, interest, and preference of a target market toward a person
26
Place marketing
Attempt to attract people to a particular area, such as a city state or nation.
27
Product related segmentation
Dividing consumer market into groups based on the buyers relationship to the good or service
28
Psychographic segmentation
Dividing consumer markets into groups with similar psychological characteristics, values, and lifestyles
29
Relationship marketing
Developing and maintaining long-term, cost-effective exchange relationships with partners
30
Target market
Group of people to a room an organization market it’s good, services, or ideas with a strategy design to satisfy their specific needs and preferences
31
Utility
Power of a good or service to satisfy a want or need